Hengli Heavy Industry has achieved first place in the global rankings with a 23.4% share of the global shipbuilding market. This unprecedented success for a Chinese shipyard that was saved from bankruptcy just four years ago is considered a significant achievement in the shipbuilding industry.
Significant Growth and Order Registrations
According to new statistics from a shipbroker, the factory based in Dalian, China, has registered orders for 276 ships from January to September 2026. This number indicates an increase in the company's market share from 9.4% in 2025 to 23.4% this year. Additionally, Hengli has registered orders for 117 container ships, 100 oil tankers, and 39 cargo ships during this period, making it the busiest shipyard in the world.
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Industrial Transformation and Future Predictions
Hengli's order volume has increased to 485 ships, accounting for 11.2% of total global orders in the shipbuilding industry. While a year ago, Hengli was ranked fifth globally with a 4.8% share, it has now widened the gap with its closest competitors. Hudong-Zhonghua and HD Hyundai Heavy Industries from South Korea are ranked next with shares of 7.1% and 6.9%, respectively.
Hengli's industrial transformation has been as remarkable in delivery as it has been in attracting significant orders. This factory, which is part of the industrial empire of Chen Jianhua, acquired the bankrupt STX Dalian shipyard in 2022 and delivered only four ships in 2024 and 17 ships last year. However, this year, in just the first nine months, it has delivered 62 ships.
Future Challenges and Potential Issues
However, there are growing concerns about the ability of shipbuilding factories to deliver all registered orders. According to calculations, 32.8% of all new contracts registered this year belong to new or revived factories, most of which are in China. Hengli alone holds a significantly larger share in this sector.
Similar challenges are observed in the Chinese shipbuilding industry. Factories generally need to deliver 89.1 million deadweight tons (dwt) of cargo and oil tankers by 2028, which is a considerable distance from the previous record of 62.6 million deadweight tons in 2011. Predictions indicate that some planned deliveries for 2027 and 2028 may be postponed to later years.
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